REGULATION: Group argues against equity index annuities rule
A coalition of insurance companies that are fighting an SEC rule argued their position in court last month.
A coalition of insurance companies that are fighting an SEC rule argued their position in court last month. The group, known as the Coalition of Indexed Products, filed a lawsuit in the U.S. Court of Appeals for the District of Columbia Circuit in an effort to try overturning a new SEC rule that classifies EIAs as securities. State insurance regulators joined the coalition in telling the court that the SEC’s rule ignores a law that grants states the right to regulate the insurance industry. The SEC will file its response April 6.
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